This huge multi-family home is located on a very nice street in South Broadway. The property is divided into two very large apartments, you have a large three bedroom apartment downstairs and a large three bedroom apartment upstairs. One apartment is currently tenant occupied and the second apartment is undergoing a refurbishment, new tenants will be placed in the refurbished apartment before you complete on the property.This property is under management by one of the leading Cleveland property management companies.
South Broadway is viewed as a very central location in Cleveland Ohio, it is just 5.5 miles from Downtown and 6.5 miles from University Circle. University Circle has the highest concentration of cultural attractions and performing arts venues in the whole of the US.
• Six bedrooms.
• Two bathrooms.
• 1,930 sqft built.
• 4,604 sqft lot.
• Fully managed.
• Local staff.
Purchase price: $34,900
Gross annual rental income: $11,400
Property running costs: $2,885 (Tax, insurance and management costs)
Net annual rental income: $8,515
Investment calculation - Net Income divided by Purchase price = NET ROI.